Newmont Co. (NYSE:NEM) Announces Quarterly Dividend of $0.25

Newmont Co. (NYSE:NEM) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Tuesday, June 4th will be paid a dividend of 0.25 per share by the basic materials company on Thursday, June 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, June 4th.

Newmont has raised its dividend payment by an average of 15.4% annually over the last three years. Newmont has a payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Newmont to earn $3.26 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 30.7%.

Newmont Stock Performance

Shares of NEM stock opened at $43.41 on Friday. Newmont has a 52 week low of $29.42 and a 52 week high of $50.18. The firm has a 50 day moving average of $35.35 and a two-hundred day moving average of $36.92. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $50.04 billion, a PE ratio of -18.24, a P/E/G ratio of 1.07 and a beta of 0.50.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.20. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. Newmont’s revenue was up 50.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 EPS. On average, research analysts predict that Newmont will post 1.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. TD Securities dropped their price objective on shares of Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a research report on Friday, February 23rd. Citigroup reduced their price objective on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Royal Bank of Canada cut their price target on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. StockNews.com downgraded shares of Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Finally, BMO Capital Markets cut their target price on Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Newmont has an average rating of “Hold” and an average price target of $50.89.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.